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Updated almost 8 years ago, 01/20/2017

User Stats

91
Posts
32
Votes
Dakota Mivshek
  • Real Estate Broker
  • Miami-Denver-Austin
32
Votes |
91
Posts

Hard Money Lending - Current Opportunity, need advice

Dakota Mivshek
  • Real Estate Broker
  • Miami-Denver-Austin
Posted

Hi There, 

Without getting into a ton of details, my dad (a realtor in Colorado) has an opportunity to buy some condo's that are currently being constructed at 50% expected market value. It is an exclusive opportunity - the developer needs cash to finish the project. i.e.) a condo is being sold for $100k now, and will sell for $200k when finished in 12-18 months. 

Will a hard money lender be an option here? A note that will be accrue and pay interest and principle at the time of sale of the condo?

With this opportunity, it is not crazy to offer a high interest rate to secure a loan. 

Any ideas here?

Thanks!

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